Comerica (NYSE:CMA) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Comerica (NYSE:CMA) from a sell rating to a hold rating in a research note published on Monday.

CMA has been the subject of a number of other research reports. Barclays lifted their price objective on Comerica from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday. Evercore ISI boosted their price objective on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised shares of Comerica from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $50.00 to $69.00 in a research note on Thursday, September 5th. DA Davidson lifted their target price on shares of Comerica from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Morgan Stanley increased their price target on Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.57.

Comerica Stock Performance

Shares of CMA opened at $62.00 on Monday. Comerica has a 12-month low of $37.48 and a 12-month high of $66.06. The stock has a market cap of $8.22 billion, a P/E ratio of 12.33 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average of $58.28 and a two-hundred day moving average of $53.90.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the previous year, the firm posted $1.84 EPS. As a group, research analysts predict that Comerica will post 5.12 EPS for the current fiscal year.

Insider Transactions at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Comerica in the third quarter worth about $36,000. Family Firm Inc. purchased a new position in Comerica in the 2nd quarter worth approximately $37,000. UMB Bank n.a. grew its position in Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.